Toyo Setal’s Merger and First Joint Project
In the city of Rio de Janeiro, a new hydrogen power plant is scheduled for construction. Named the Petrobras project, Toyo Setal will be in charge of overseeing the development of Petrobras located in the Buzios field in the Santos Basin. More information about Toyo Setal at Bloomberg.com
Japan’s Toyo and Brazil’s Setal Oil and Gas merged forming Toyo Setal. This merger came about as a result of SOG (Setal Oil and Gas) searching for a partner. When Valor of Toyo learned that SOG had been seeking he suggested they begin working together with an equal management sharing control. Previously, the two companies had joint projects along with a good working relationship making the decision for Toyo to buy half of SOG an easy one. Now, the newly formed company mainly operates in:
- Oil & Gas
- Mining, Steel
- Infrastructure and Energy segments
At the Rio de Janeiro petrochemical complex, Toyo Setal has been charged with overseeing the hydrogen plant’s design, equipment materials and installation. This is part of the Rio de Janeiro petrochemical complex. Construction is already in the ground starting in May of 2013 and predicted to be completed by mid-2016. The 1.2 billion dollar project will consist of two refineries along with a hydrogen plant all producing high output velocities. Two refineries will be producing 165,000 barrels of oil per day while the hydrogen plant will have a capacity of 250,000 cubic meters per hour.
The project’s scope includes:
- executive design
- equipment and material supply
- civil works
- electromechanical assembly
- pre-commissioning, and commissioning
- start-up assistance
Since Toyo and SOG’s merger, they have accomplished a good deal together and plan for much more shortly. The Petrobras project is expected to have a positive impact on the local communities while meeting the Brazilian government’s expectations for higher production in these fields. Toyo Setal is an award-winning company with a bright future.